New Zealand Publishes Special Report on New Foreign Trust Disclosure Rules

New Zealand Inland Revenue's Policy and Strategy group has published a special report on the new foreign trust disclosure rules that were introduced in the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 ({News-2017-03-02/A/2- previous coverage}). Under the rules, new foreign trusts formed after the enactment of the rules (21 February 2017) must apply for registration within 30 days, while existing trusts must apply for registration by 30 June 2017. Resident tr…